AuthorTopic: The real question about NYLS (Read 7207 times)

How the hell are we going to finance an education at this school??? (assuming no scholarships) It's close to $50,000 a year including tuition, books, rent, living expenses in nyc, etc. I want to go here but, damn.

Its apparent that there is some form of collusion that is involved between all the private institutions to arrive at a cost.

In the long run it will be worth it. As long as you serious about being an attorney and have the ability to perform well in your duties as an attorney you will understand that the money involved is insignificant when compared to your existence in society after you graduate.

This is actually not the case. The fact that New York Law School’s tuition is about 50K a year is deplorable especially considering the real salaries (not fake statistics reported by the school), coming out of New York Law for almost anyone but top 10 in the class or those with excellent connections is probably about 30-50K a year. There are much more affordable options. In New York consider CUNY Law School which actually prepares students for careers in litigation or generally in the New York State Court system which a majority of students from lower end New York City Schools will be actually employed after graduating and passing the bar exam. University at Buffalo also has a much more affordable law school.

I would advise potential students to take into account the fact that while you may be able to afford NY Law by taking out privet loans these are often at huge interest rates, anyplace from 91/2 to 12-13%. Even with a scholarship and three years of full time work experience at a mid sized NY city firm I am still in about 50 thousand dollars of debt which is doing well compared to many of my colleagues from New York Law School. Out of several of my colleagues who graduated with me I would calculate the average salary after three years (some three and a half), at about 60K. Consider the fact that this is after three years experience for all but one of us at respective same firms. A far lower rate of monetary advancement then you would see out of business school or even many graduate programs. At my firm and many I associate with or friends are employed with the starting salaries for first year associates is about 40-50K jumping to 55 after about 7 months and requisite billing numbers and actualization rate (the client actually pays for and are not cut by partners). This is almost impossible to meet so most associates jump to 55 after a full year.

I am not trying to suggest that New York Law is wrong for everybody. Would just advise potential students to think about whether they really want to practice law and whether it is a worthwhile investment. I know many friends who are stuck practicing working long hours and weekends at jobs they hate because of their debt. Go to Court houses and see what lawyers do for a living. Not trials but Preliminary Conferences and Motion practice. Ask lawyers and judges what they think of employment opportunities out of New York Law. How much would they pay you? I was shocked when after passing both the New York and New Jersey Bar Exams my first offer (did not take the job), was 30K a year for a mandatory 8AM-7:30PM day. If you do make the decision to attend NY Law and are not wealthy at least have an idea of what you are getting into.

re: the "existence in society" making up for paying full fees at a T3/T4.

Get real.

A full-fee T3/T4 graduate's "existence in society" post-graduation will be hustling to find a job. Many will not find employment as lawyers. All will either be (1) rich and have no debt or (2) seriously in debt.

Having experience as a student at a T3 on scholarship, I would not advise anyone who is anything other than 1000%% committed to the practice of law in the face of serious adversity (finding a legal job in a bad economy from a bad school) to pay full tuition at a low-ranking law school.

re: the "existence in society" making up for paying full fees at a T3/T4.

Get real.

A full-fee T3/T4 graduate's "existence in society" post-graduation will be hustling to find a job. Many will not find employment as lawyers. All will either be (1) rich and have no debt or (2) seriously in debt.

Having experience as a student at a T3 on scholarship, I would not advise anyone who is anything other than 1000%% committed to the practice of law in the face of serious adversity (finding a legal job in a bad economy from a bad school) to pay full tuition at a low-ranking law school.

I agree with most of this. I'm a 1L at NYLS, and a lot of people entered at the beginning of the year thinking that they would be handed a briefcase full of cash just for showing up. (This despite the dean's blunt point at the beginning of the year - that 90% of the class won't be top 10%.) After the first semester grades, I can honestly say that the kids who spent all their time in the library, and actually ENJOYED the day to day experience of learning about the law, did well. The over-confident and lazy bombed, even the bright ones. Don't get into it for the money, because there aren't any guarantees at a school like NYLS.